By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress because of joblessness or divorce.

Within five years of retirement, an estimated 60% of former NBA players are broke.

Numerous retired MLB players have been similarly ruined.

If that's not bad enough, the recession has made things even worse. Too much money in real estate; investments in Ponzi schemes; and poor financial advising have been exposed with the down economy.

A sign of the times? More former stars are selling their championship rings for money than ever. "It's amazing that I heard the recession was over," says Timothy Robins, owner of Championshiprings.net, who buys bling from current and former pros and saw a 36% increase in sales during 2008-2009. "I'm getting more calls from players than ever. They're having a really hard time."

While just about everyone has lost money over the past two years, athletes tend to make particularly bad financial decisions, and it's not just reckless spending.